CREDIT UNION TIMES Vol. 8, No. 21 May 21 1997

Looking back six years ago finds Citizens Community Federal Credit Union defending its position to convert to a thrift. “Since we started this, we believed the conversion would be in the best interest of the community. We’re disappointed in the position the Wisconsin Credit Union League has taken,” said Citizens Executive Vice President Thomas J. Maday. WCUL President Ronald G. Halverson believes the move is a harbinger to a stock conversion down the road. “We don’t see their rationale. They can meet all of their goals and objectives under a credit union charter,” said Halverson. Also in that issue the Credit Union Campaign for Consumer Choice brought a press conference, featuring speakers representing groups that filed friend-of-the-court briefs in support of the credit union FOM issue, right to the steps of the Supreme Court. “I’ve worked on consumer banking issues for 25 years,” said Consumer Federation of America Executive Director Steve Brobeck. “And I can tell you that consumers want a choice. If banks are allowed to drive credit unions out of business, all consumers will lose because a choice between two banks is not a choice at all.”